en.Wedoany.com Reported - Matrix Renewables recently officially commenced commercial operation of the Stillhouse solar photovoltaic project in Bell County, Texas, USA. The project has a DC capacity of 281 MW and an AC capacity of 210 MW, with an investment exceeding $380 million.

The project has signed a 15-year Power Purchase Agreement with an affiliate of Hyundai Motor Group. It is expected to provide clean electricity to approximately 49,000 households annually and reduce over 185,000 metric tons of carbon dioxide emissions.

Regarding financial arrangements, Matrix Renewables completed investment tax credit financing and converted construction financing into long-term debt. Northleaf Capital participated as a minority investor, while MUFG, HSBC, and ING Capital LLC provided term debt and letter of credit support.

Additionally, the company partnered with the Sustain Our Future Foundation, investing nearly $3 million to support local community benefit projects.

Cindy Tindell, Managing Director and US Head of Matrix Renewables, stated: "This milestone marks the smooth transition of the project from the construction phase to long-term operation. By optimizing the capital structure, we can continue to provide stable renewable energy power in the ERCOT market."

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